Carbon Pulse

The EU is eyeing a summer start for sales of tens of millions of frontloaded carbon allowances under the bloc's REPowerEU programme, Carbon Pulse understands, with officials considering scheduling them at the same time as they update this year's auction calendar for new MSR-related withdrawals.

The majority of the world’s largest asset managers that together control over $77 trillion of assets are not investing responsibly and are failing to protect the climate, biodiversity, and people, a report by the responsible investment NGO ShareAction has found.

European carbon clawed back most of the losses of the second half of last week in a robust morning's action on Monday, despite the growing caution of analysts who see an increasing potential for a bearish reversal as the peak demand season approaches.

Biodiversity-positive carbon credits and nature certificates can play a key role in closing the biodiversity funding gap, but governments and policymakers should support the development and scaling-up of the market, according to a high-level working group led by the Global Environment Facility (GEF).

The spot price for NZUs have continued to sink in recent weeks in one of the biggest corrections in the market’s history, despite the quarterly auction being less than a month away.

India will need state governments to ramp up their actions to accelerate the transition to renewables at the regional level to give the world’s third-largest GHG emitter a better chance to meet its NDC goals, a joint report from two climate policy think-tanks urged on Monday.

An Australian industry body has recommended vintage limits be placed on Australian Carbon Credit Units (ACCUs) being used for compliance purposes under the Safeguard Mechanism, but not until after the initial review period.

China has seen coal power projects accelerate dramatically last year with new permits reaching the highest level since 2015, adding to the worries over the country's ability to realise its climate goals, a report has found.

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The South African government is taking steps towards introducing a tradeable component to the country’s carbon tax regime.

The Oregon Clean Fuels Program (OCFP) generated the highest quarterly net deficit in its history during the third quarter, pending residential EV charging credits that are issued biannually, as deficit generation from gasoline and diesel soared to record levels, according to state data published Thursday.

The Canadian government on Friday published a refrigerant carbon credit protocol that will apply nationwide under the federal offset system, as it unveiled further details of other methodologies currently under development.

The German government sold a total 217 mln emissions certificates in 2022 under the country's domestic carbon tax scheme for transportation and heating sectors (nEHS), it announced on Thursday, raising some €6.4 billion in revenues.

The US Commodity Futures Trading Commission (CFTC) on Friday began publishing delayed Commitments of Traders reports following a cyber attack on the agency’s third-party data provider several weeks ago, showing that compliance entities in the WCI and RGGI markets saw their net long positions unwind as the January contract went to delivery.

A summary of legislative, regulatory, and policy action on carbon, clean fuel standard, and clean energy markets at the US federal and subnational levels this week, including planned legislation to eliminate RGGI in Pennsylvania and committee passage of a clean transportation fuel standard bill in New Mexico.

Emissions resulting from the EU's scramble to burn wood to heat homes last year are set to remain outside the scope of the bloc's carbon pricing system, with residential biomass burn poised to retain its definition as a green activity despite ongoing discussions around its sustainability. 

The ongoing need to evaluate and refine accounting methods, incorporating new data and new understanding, is not a fatal flaw in the AFOLU market, rather it is a natural and essential process so that market-based finance can be delivered more efficiently and urgently to fight climate change and conserve forests around the world, write David Shoch, Scott Settelmyer, and Rebecca Dickson, of TerraCarbon LLC.

Poor demand rather than concern about the quality of supply has undermined attempts to introduce standardised products in the voluntary carbon market (VCM), a senior executive at the Intercontinental Exchange (ICE) told Carbon Pulse ahead of the bourse’s first auction of offsets.

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European carbon climbed back towards their recent record high on Friday morning as traders reacted to a stronger-than-usual auction result, defying what several participants said were unsupportive fundamentals, while energy markets rallied amid a second day of strong gains for coal.